₹48.00 Crores | Listing at BSE | Fri, Feb 2, 2024 - Thu, Feb 15, 2024
Quest Softech (India) Limited Rights Issue comprises 1.60 Cr equity shares aggregating to ₹48.00 Cr, offered at an issue price of ₹30 per share with a face value of ₹10 per share.
The record date for determining eligible shareholder is Jan 8, 2024, with the Rights Issue being offered in the entitlement ratio of 8 : 5.
The term of payment is defined as following : An amount of Rs. 10/- per Rights Equity Share (including a premium of Rs. 6.67 per Rights Equity Share) to be paid on Application and balance to be paid in 2 calls as determined by the Board at its sole discretion from time to time.
The Rights Entitlements are expected to be credited to eligible demat accounts on Feb 24, 2024.
The Rights Issue opens on Feb 2, 2024, and closes on Feb 15, 2024, with renunciation of Rights Entitlements permitted up to Feb 8, 2024.
The deemed date of allotment is Feb 24, 2024, following which the equity shares are expected to be credited to demat accounts on Feb 28, 2024 and listed at the BSE on Mar 1, 2024.
Purva Sharegistry (India) Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Quest Softech (India) Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Mon, Jan 8, 2024
Entitlement Ratio
8 : 5
Open Date
Fri, Feb 2, 2024
Close Date
Thu, Feb 15, 2024
An amount of Rs. 10/- per Rights Equity Share (including a premium of Rs. 6.67 per Rights Equity Share) to be paid on Application and balance to be paid in 2 calls as determined by the Board at its sole discretion from time to time.
Quest Softech (India) Limited's revenue decreased by -28.11% and profit after tax (PAT) rose by 30.09% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 9.85 | 7.89 | 4.01 | 4.40 |
| Revenue | 0.03 | 0.06 | 0.09 | 0.08 |
| Profit After Tax | -1.32 | -0.36 | -0.51 | -1.15 |
| Net Worth | 2.01 | 3.33 | 3.69 | 4.20 |
| Reserves and Surplus | -7.99 | -6.67 | -6.31 | -8.92 |
| Total Borrowing | 6.22 | 4.56 | 0.32 | 0.20 |
| Amount in ₹ Crore | ||||
Incorporated in 2000, Quest Softech (India) Limited provides home charging solutions, public charging stations and fleet management solutions.
The company also operates its own charging stations and provides various services for the EV charging stations such as installation of charging stations, feasibility check and provision of annual maintenance services (AMC Services) for the installed charging stations.
The company has two business models: the COCO model and the trading model. COCO (company-owned and company-operated) refers to the costs that QSIL incurs for the procurement, installation and maintenance of the charging stations at its own expense.
The company's charging station is operated under the brand name "AMPVOLTS". Under AMPVOLTS, the company offers the testing of charging stations for suitability and cost-effectiveness, the trading of charging stations, the installation and commissioning of charging stations, the servicing and maintenance of charging stations and a network of COCO charging stations (company-owned and company-operated charging stations).
In addition to charging solutions, the company also offers consulting services to help companies and organizations develop and implement their own charging strategies for electric vehicles.
The company intends to utilize the gross proceeds raised through the Issue (Gross Proceeds) after deducting the Issue related expenses (Net Proceeds) for the following objects:
[Dilip Davda] This company was in IT related segment and has jumped into EV charging related business. It has posted losses for the reported periods, but under the EV charging banner, the counter was well operated by vested interests despite dismal financial performance for the reported periods. More than doubles equity capital will face servicing issue. There is no harm in skipping this pricey RI. Read detail review...
Quest Softech India Rights Issue 2024 got oversubscribed by 1.57 times by the end of the bidding period with total bid quantity received by BSE of 2,51,44,139 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Feb 15 2024 17:00:00 | 2,51,44,139 | 1.57x |
Quest Softech (India) Limited
Cabin No. 11, 7th Floor,
Times Square, Andheri Workflo, next to Sai Service
Andheri East, Mumbai - 400069
Andheri, Maharashtra, 400069
Purva Sharegistry (India) Pvt.Ltd.
The Quest Softech India Rights Issue 2024 opens on Fri, Feb 2, 2024, and closes on Thu, Feb 15, 2024.
Quest Softech India Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Thu, Feb 1, 2024 |
| Last Date for renunciation of Rights Entitlements | Thu, Feb 8, 2024 |
| Issue Opening Date | Fri, Feb 2, 2024 |
| Issue Closing Date | Thu, Feb 15, 2024 |
| Date of Allotment (on or about) | Sat, Feb 24, 2024 |
| Date of Credit (on or about) | Wed, Feb 28, 2024 |
| Date of Listing (on or about) | Fri, Mar 1, 2024 |
You can apply for Quest Softech India Rights Issue 2024 in two ways:
Steps to apply for Quest Softech India Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Quest Softech India Rights Issue 2024 using Registrar's website (R-WAP)
